The Forklift Truck Global Market Report 2023 by The Business Research Company, provides forklift truck market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Forklift Truck Global Market Report 2023, the global forklift truck market size will grow from $56.56 billion in 2022 to $62.16 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of forklift truck market is expected to grow to $89.74 billion in 2027 at a CAGR of 9.6%.

The growing construction industry is expected to propel the growth of the forklift truck market going forward. Construction refers to the building of residential, commercial, industrial, institutional, and infrastructure types of construction. These forklift trucks are used in the construction industry for various tasks such as unloading pallets of blocks or bricks, steel joists, and construction equipment and materials, especially in hauling them from the delivery truck and carrying them to the construction site.


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The forklift truck market is segmented:
1) By Product Type: Counterbalance, Warehouse

2) By Technology: Electric Power, Internal Combustion Engine

3) By Class: Class I, Class II, Class III, Class IV, Class V

4) By End-User: Retail and Wholesale, Logistics, Automotive, Food Industry, Other End Users

New product innovations have emerged as the key trend gaining popularity in the forklift truck market. Major companies operating in the forklift truck sector are focused on developing new technological advancements to increase their market share. For instance, in April 2020, Toyota Material Handling, a subsidiary of Toyota Industries, a Japan-based manufacturer of automobiles, launched electric forklifts that are designed by using unique alternating current (AC) motors that help to control overall energy and operational costs for superior operability. They have a capacity of 3,000 and 3,500 pounds each to increase productivity. In comparison to earlier models, this electric forklift truck can travel and lift objects at speeds that are up to 27% faster and has a runtime that is up to 12% longer.

The forklift truck market report table of contents includes:
1. Executive Summary
2. Forklift Truck Market Characteristics
3. Forklift Truck Market Trends And Strategies
4. Forklift Truck Market – Macro Economic Scenario
.............
26. Africa Forklift Truck Market
27. Forklift Truck Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Forklift Truck Market
29. Forklift Truck Market Future Outlook and Potential Analysis
30. Appendix
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